Liao Daniel JL 4

What Happened

• Daniel JL Liao, a director of Photronics, was granted 1,234 restricted stock units (RSUs) on January 20, 2026. The Form 4 reports an acquisition price of $0.00 for the award (total reported cost $0). This is an equity compensation grant (award), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-20; Report filed: 2026-01-22 (appears within the standard 2-business-day Form 4 window).
• Transaction type/code: A — Award/Grant (restricted stock units).
• Shares/units granted: 1,234 RSUs; reported acquisition price: $0.00; reported total value: $0.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: F1 — RSUs granted under the company's 2025 equity incentive compensation plan. F2 — RSUs vest 100% on April 3, 2026.
• No 10b5-1 plan, tax withholding, or immediate sale noted in the filing.

Context

• RSUs are a form of compensation that convert into actual shares only when they vest; these units do not represent immediately tradable shares. The reported $0 acquisition price reflects grant reporting; the economic value to the insider will depend on Photronics' stock price at vesting on April 3, 2026. This filing documents a grant (compensation), not a purchase or sale.